It won't go back to premium anymore

i buy the newsletter

Yeah! I do but the online version. Rm200 only, totally worth it in my opinion but of course doing your homework is critical too. I won't say that I'm good but the newsletter does help together with peter lynch's and benjamin graham's book. That reminds me...I must renew the subscription..almost ended. I recommend ICAP to my friends and family if they want something a counter that they don't want to monitor rigorously

There is a conflict of interest involve. He can't advice people to buy while he is disposing. TTB record is good, but, some of his actions has not been honest and thus could not be trusted. I browse through ICAP once when they are making promotion, the material they are providing is a bit misleading.

For those who are interested on the other side of ICAP : http://whereiszemoola.blogspot.com/search/label/iCapital

In one shareholder meeting, a shareholder asked Icapital.biz to pay the parking fees of all those who attended the meeting...

Of course TTB rejected the request and showed his displeasure over the request. Don't you think the request is inappropriate?

The Chairman closed the matter by saying the item is not within the agenda of the meeting and there was thunderous applause from the floor supporting the decision by TTB and the Chairman...

Imagine if TTB has to entertain all this kinds of inappropriate requests/ questions, it would be wasting hundreds of those who attending the meeting...

hi hpcp and snowball,

There is no point for you guys to argue. Both of you guys have your own views, and i must say, some it's right, and some it's wrong.

Caveat: I'm an ex-ICap staff

Oh well, here it goes.

Mr. Tan is not front-loading his newsletter readers
Let's get two things clear first. One, every buy and sell decisions for ICap fund management business is done by Mr. Tan himself. Two, buy or sell call by the newsletter advisory is done by his analysts. Of course, he will supervise, but he usually won't change his analysts' recommendation (only once he changed it as far as i was still there).

Why the conflicting calls between the two? Well, the main reason is because you are referring to a not-frequently-updated stock call list.  The only time a buy/hold/sell call of a stock is being reviewed is either when; 1) The stock is being featured in the newsletter; or 2) Quarterly reporting. So, when Mr. Tan sell off a particular stock from his ICap fund due to whatever reason, the old recommendation is still there. And no, he never ask his analysts to issue a report or publish a short note subsequently to reflect his disposal. Hence, it appears that he is front loading, but he is not. You are just looking at an outdated stock call list.

Furthermore, there is no target price in their stock call list, simply because there is none in the first place. So you don't even know when a Buy call stock is already overvalued.

And do you guys really believe that the newsletter have the "power" to push up share price of a particular stock? A piece of advice if you really want to use the newsletter to invest. Just look at the paper portfolio in the newsletter and monitor what is the latest purchase or disposal by him. That is his conviction pick (which will usually be what he buy or sell for his actual fund portfolio). Ignore the stock call list and maybe also the company analysis.

Btw, i am the analyst who put a Hold recommendation on Axiata. Previous Buy call was done by other analyst who left the company shortly after i joined. In between the period i joined the company and issuing a report on Axiata, there is this Axiata rights issue and disposal by Mr. Tan (of which, the Buy recommendation was never updated during this period). Will this clear things up?

No "China Wall". In fact, why need "China Wall" at all in the first place in ICap?
To say investment advisory and fund management business is run by different group of staff is half-truth. After all, Mr.Tan is the fund manager, and he is also the head of research.

Mr. Tan have a team of analysts to cover stocks, and the main purpose is now more towards churning out report to fill in the weekly newsletter, rather than finding investment ideas for his fund. This is especially true after majority of his senior analysts left the company. On the fund management side, practically there is no one else except Mr.Tan.

Buy in ICAP 5 lots @ RM2.25.
Show bullist trend
Huge discount from NAV

Market price RM 2.25
NAV  RM 2.73
Nearly 20% discount.

Or else u miss the boat.

will add more @ 2.20

2.25 is too high for this time

The weekly magazine 'ICAP' is not belonged to icapital.ibz Berhad, instead it is under the fund management company, i.e. Capital Dynamics, who is the fund manager of icapital.biz Berhad.

I think the main reason of collecting fees for the weekly magazine by Capital Dynamics is to sustain the operation of the magazine since the magazine does not contain any advertisement, except for the advertisements for its own funds icapital.biz, ICAP Global Fund and ICAP Value Fund.

If ICAP fall below its NAV by 40%, I will withdraw my ASW and buy in more. Think that Padini cost RM 0.28, now trading at RM 1.13 with almost 20,000 lots in ICAP's hand, it is worth to let Mr. Tan to manage my fund.

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Added on May 14, 2011, 12:51 pm

Hi HJebat,

I bought ICAP way back to year 2006 after 1 year it listing. I m not apply for ICAP listing nor buying after its listing. The main purpose for me to buy after one year is to see the ICAP's performance. My 1st purchase was at the price of RM 1.15, then accumalating over the years, now I m holding quite a few but I m not bother to calculate my average price since I m holding for long-term. My last purchase was 5 lots @ RM 2.25. Will accumulating in future when I have surplus fund.

BTW, I don't bother what Composite Index is moving nor looking at overbuy or oversales. My intention is looking for long-term investment. Till now TTB still not disappointing me.
Maybe this is what Mr. Tan describe as ICAP's shareowner as I just buy/accumulating but never  sell till now.

Second that.

1). My fund actually divide into two:-

a). Majority at ASW. But, you know ASW is quite hard to buy and another thing is that, in fact I felt that ASW fund's is weird. Have some concern about the operation of ASW.
    Let me share with you about ASW, how can a fund maintain at RM 1.00 if KLSE collapse e.g. to 250 points like that in year 1998. If KLSE maintain 250 points for a few year, will ASW's still maintain at RM1.00?????(it is not a gurantee fund but a fixed price fund)..... Maybe I still can't understand the operation of ASW:stars:

b). My view on ICAP is at price of RM 2.XX is still consider as low given the excellent performance of about 20% compound interest from it listing till now. Look at American best fund managed by world 2nd richest man, now the share is stand at US 100,000 per lot. Though we cannot compare orange with apple.

If Parkson wake up, I m sure ICAP NAV easily break though RM 3.00
ICAP holds Parkson 9,000 lots cost RM 2.60 now stand at RM 5.60

Nobody knows the answer, only gomen know. They are  genius that can create these unique fund  and can only found in Bolehland.

u 1 asw die

during bad economy time all ppl sell asw to buy stock

asw dont hv $ to gv out

maybank 2009 price rm4

u gt 4000

option 1
u invest in maybank
2010 maybank price rm6
2011 maybank price rm8

socai teknik
if u socai put into asb rm4000
2010 asb price rm4000 dividen give u 10% rm4000+400 =rm4400
2011 asb price rm4400 dividen give u 10% rm4400+440 =rm4840

so u wan folow socai rule?

This is the thing that everyone always debate. However, when all share price plunge, you would not dare to enter so soon, because you are worry of catching the falling knife. I am sure not so many people will keep going in and averaging down until out of bullet. There are many people who suffer the consequences of buying shares when the economy is real bad. You won't know whether it is the bottom, or still gonna go down more, and how long the economy takes to recover? 1 year? 2 years? 10 years? We never know. It is always easier to say than done, what's more after a crisis when we know it has been recovering.....then we will see a lot of people say, wow...if I bought Maybank, CIMB etc, now already millionaire.

Icap is not a company.
Icap is a closed ended fund.
Please be minded.

Icap underlying or fundamental is about its share holding aka share portfolio.
Icap doesn't run as a business.